According to a poll conducted in 2016 by Insurance Information Institute, roughly four out of ten renters reported having renters’ insurance. By contrast, 95 percent of the respondents said that they had homeowners’ insurance. A comparison of homeowner’s insurance and Renter’s Insurance reveals many of the same types of coverage and benefits. In fact, you might consider tenants insurance to be home insurance for Tenants. However, homeowner’s insurance, as its name suggests, covers perils arising out of home ownership. If you rent, neither homeowner’s insurance nor your landlord’s insurance will avail you if you suffer a loss. As a renter, you need tenants’ insurance to reimburse your losses from thefts, fires, accidents and other incidents in the rental unit.